Times Property (01233) said it agreed to acquire 75% equity interest in Guangzhou Xingsheng Real Estate Development Company Limited at Rmb383 million from Duxton Investment And Development Pte. Ltd.
The objective of the project company is to develop a parcel of the land designated as ZSCN-B2-2 located in the Southern Start-up Area of Sino-Singapore Guangzhou Knowledge City, the PRC, and its scope of business will be the development, construction, sale, management and lease of commercial properties and related facilities on the land. The registered capital of the project company is Rmb250 million.
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